Economist Yasheng Huang compares China to India, and asks how China's
authoritarian rule contributed to its astonishing economic growth --
leading to a big question: Is democracy actually holding India back?
Huang's answer may surprise you.
MIT and Fudan University professor Yasheng Huang is an authority on
how to get ahead in emerging economies. The China and India Labs he
founded at MIT's Sloan School of Management specialize in helping local
startups improve their strategies. His book Capitalism with Chinese
Characteristics (2008) chronicles three decades of economic reform in
China and documents the critical role that private entrepreneurship
played in the Communist nation’s “economic miracle.” Huang
believes that China is moving away from Marxism (public ownership) but
not Leninism (ideology of state control) -- and that strong social
fundamentals are the key reason for its growth.
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